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LVMH Wines & Spirits Q3 boosted by Hennessy

12/10/2017 LVMH Wines & Spirits achieved 8% organic growth for the first nine months of 2017, bolstered by the strong performance of Hennessy Cognac.

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Combined Moët Hennessy Louis Vuitton Group revenue grew 14% to €30.1 billion over the period.

Organic revenue grew 12% compared to the same period in 2016.

According to the company, all divisions recorded double-digit organic growth, with the exception of Wines and Spirits, whose progress was “limited by supply constraints”.

Hennessy Cognac has been “performing well” since the beginning of the year. Volume increase within the Wines & Spirits division was up by 9% for the first nine months of 2017, despite supply constraints.

In a statement, the group said: “In an uncertain geopolitical and currency environment, LVMH will continue to be vigilant. The group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets.

LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2017.”

In April this year, reported sales for LVMH’s Wine & Spirits division grew 16% to €1.2 billion (US$1.25bn) in the first quarter of 2017, with volumes of Hennessy Cognac increasing “significantly”.

Read More at source: The Spirits Business